Western Asset Municipal High Income Fund (NYSE:MHF) Shares Cross Below 50-Day Moving Average – What’s Next?

Western Asset Municipal High Income Fund Inc. (NYSE:MHF) shares passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $6.92 and traded as low as $6.80. Western Asset Municipal High Income Fund shares last traded at $6.83, with a volume of 28,925 shares.

Western Asset Municipal High Income Fund Trading Down 0.6%

The firm’s 50-day moving average is $6.92 and its 200-day moving average is $6.92.

Western Asset Municipal High Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.034 per share. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Friday, November 20th.

Institutional Investors Weigh In On Western Asset Municipal High Income Fund

A number of hedge funds have recently modified their holdings of MHF. Cetera Investment Advisers bought a new position in Western Asset Municipal High Income Fund in the 2nd quarter worth $92,000. Raymond James Financial Inc. grew its holdings in Western Asset Municipal High Income Fund by 8.9% during the second quarter. Raymond James Financial Inc. now owns 1,035,945 shares of the financial services provider’s stock valued at $7,200,000 after purchasing an additional 84,431 shares during the period. Bank of America Corp DE increased its position in Western Asset Municipal High Income Fund by 5.5% in the second quarter. Bank of America Corp DE now owns 582,865 shares of the financial services provider’s stock worth $4,051,000 after buying an additional 30,265 shares in the last quarter. Osaic Holdings Inc. increased its position in Western Asset Municipal High Income Fund by 113.9% in the second quarter. Osaic Holdings Inc. now owns 7,323 shares of the financial services provider’s stock worth $51,000 after buying an additional 3,900 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in shares of Western Asset Municipal High Income Fund during the 3rd quarter valued at approximately $442,000.

Western Asset Municipal High Income Fund Company Profile

Western Asset Municipal High Income Fund Inc is a closed-end management investment company that seeks to provide high current income exempt from federal income taxes. The fund primarily invests in U.S. municipal securities, with an emphasis on high-yield bonds issued by state and local governments, authorities and agencies. Its portfolio may include general obligation bonds, revenue bonds, pre-refunded bonds, insured securities and variable-rate instruments, with the goal of delivering attractive tax-advantaged yields for shareholders.

The fund is managed by Western Asset Management Company, LP, a global fixed-income specialist and subsidiary of Franklin Resources, Inc Western Asset’s investment team employs a disciplined, research-driven approach, combining top-down macroeconomic analysis with bottom-up credit research to identify opportunities across the municipal bond market.